Bank of Ghana warns against investing in cryptocurrency project Sidicoin – Bits Media

Central Bank of Ghana (BG) issued a warning about the risks of investing in unregulated schemes using digital assets.

According to the BG statement, the Sidicoin project did not receive regulatory permission to work in the field of banking and payment services and therefore considered too dangerous a place to invest money.

Meanwhile, dancer and musician, aka Stonebwoy, recommended to my subscribers on social networks to pay attention to Sidicoin. According to a local celebrity, times are changing, and participation in the project will allow every hardworking person to earn money.

Previously, Ghanaian journalist Bridget Otu (Bridget That's right) got into an altercation with the star, reminding him of the situation, когда Stonebwoy рекламировал инвестиционную фирму Menzgold Ghana, которая оказалась мошеннической схемой. Журналистка заявила, that it is tactless for a famous dancehall musician to promote scammers and present people with a way to make money, on which they will only lose money.

BG warned all regulated financial institutions and all payment service providers to refrain from conducting transactions with cryptocurrencies, in order not to contribute to the spread of suspicious investment schemes. Members of the general public, who are interested in further clarification on this issue, It is recommended to contact the BG Financial Stability Department.

In March, the Bank of Ghana already warned of an increase in the number of illegal start-ups, associated with crypto actures. However, the regulator is positive about the launch of its own digital currency, which is designed to expand public access to banking services. Last month BG reported, which is already working on creating an electronic and hardware wallet for the digital cedi.